Knowledge Check Question 1 Cecilia V Espa David has always dreamed of opening a cafe by the seaside. He decides he will save to help open the cafe by depositing money in an ordinary annuity that earns 4.2% interest, compounded monthly. Deposits will be made at the end of each month. How much money will he need to deposit into the annuity each month for the annuity to have a total value of $25,000 after 7 years? Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas. X 5